Oriole has the following inventory data: Nov. 1   Inventory   34 units @ $6.70 each 8   Purchase   134 units @ $7.20 each 17   Purchase   67 units @ $7.05 each 25   Purchase   101 units @ $7.40 each A physical count of merchandise inventory on November 30 reveals that there are 112 units on hand. Cost of goods sold under FIFO is

The units of Manganese Plus available for sale during the year were as follows: Mar. 1 25 units @ $29 $725 Inventory Purchase June 16 29 units @ $32 928 Nov. 28 Purchase 41 units @ $37 1,517 95 units $3,170 There are 12 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost by the FIFO method. b. Determine the inventory cost by the LIFO method. c. Determine the inventory cost by the weighted average cost methods. Round intermediate calculations and final answer to two decimal places.

WHAT IS THE DOLLAR AMOUNT ( FIFO & LIFO)  FOR THE " ENDING INVENTORY AT MAY 31" AND " COST OF GOODS SOLD " ?

Blue has the following inventory data: Nov. 1   Inventory   35 units @ $7.00 each 8   Purchase   139 units @ $7.50 each 17   Purchase   70 units @ $7.30 each 25   Purchase   104 units @ $7.70 each A physical count of merchandise inventory on November 30 reveals that there are 116 units on hand. Ending inventory under FIFO is

Atlas Company uses the perpetual inventory costing system. The company has provided the following data for the current period: Units Total $ 800.00 $1,540.00 $ 960.00 $6,000.00 Date Transaction 1-Nov Beginning balance 4-Nov Purchases 40.00 70.00 40.00 6-Nov Purchases 7-Nov Sales 100.00 Calculate the total purchases for the period given per FIFO $20.00 $22.00 $24.00 $60.00

Cheyenne Corp. has the following inventory data: July 1 Beginning inventory 48 units at $19 $912 7 Purchases 168 units at $20 3360 22 Purchases 24 units at $22 528 $4800 A physical count of merchandise inventory on July 30 reveals that there are 80 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is $3248. O $1648. $3152. O $1552.

Whisperings has the following inventory data: Nov. 1   Inventory   28 units @ $5.50 each 8   Purchase   110 units @ $5.95 each 17   Purchase   55 units @ $5.80 each 25   Purchase   83 units @ $6.10 each A physical count of merchandise inventory on November 30 reveals that there are 92 units on hand. Cost of goods sold under LIFO is

CAISCO Sales Inc. had a beginning inventory of May comprising of 700 units that had a cost of $80/unit. A summary of purchases and sales during the month of May are as follows: Date May 2 May 6 May 10 May 19 May 23 May 30 Units Unit Cost Purchased Units sold $83 $85 $88 Multiple Choice $102,700 $105,600 1,200 $99,600 800 Assume that CAISCO Sales Inc. uses a periodic inventory system. What is the value of ending inventory using FIFO? $97,500 300 400 900 500 None of the other alternatives are correct

company made the following merchandise purchases and sales during the month of May: May 1 Purchased 380 units at $15 each May 5 Purchased 270 units at $17 each May 20 Purchased 300 units at $22 each Sold 800 units There was no beginning inventory. Calculate Cost of Goods Sold and Ending Inventory under (a) FIFO, (b) LIFO, and (c) Weighted Average.

Simple Plan Enterprises uses a perlodic Inventory system. Its records showed the following: Inventory, December 31, using FIFO - 44 Units @ $17 = $748 Inventory, December 31, using LIFO – 44 Units @ $13 = $572 Transactions in the Following Year Purchase, January 9 Purchase, January 20 Sale, January 11 (at $41 per unit) Sale, January 27 (at $42 per unit) Units Unit Cost Total Cost $ 1,088 2,014 56 18 106 19 86 62 Required: 1. Compute the number and cost of goods avallable for sale, the cost of ending Inventory, and the cost of goods sold under FIFO and LIFO. 2 Compute the Inventory turnover ratio under the FIFO and LIFO Inventory costing methods. 3. Does the Inventory method used make a significant difference In the Inventory turnover ratlo? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the number and cost of goods available for sale, the cost of ending inventory, and the cost of goods sold under FIFO and LIFO. FIFO LIFO…